Israeli start-up Iamba Networks Inc., a developer of a fiber-to-the-premises (FTTP) solution, has raised $8 million in its second financing round. Cedar Fund led the round, joined by existing investors Giza Venture Capital and Pitango Venture Capital. According to IVC Online, the company has raised $24 million to date.
Iamba, which was founded in 2000, is developing a platform for high-speed optical communications to the end user. The technology is targeted for traditional telephony companies competing against cable companies that can transmit large volumes of communications to users’ homes over cable networks. Iamba went through hard times during the early 2000s when the company was unable to develop the technology as quickly as expected, and it restructured and made strategic changes. One measure was the appointment of Moshe Nativ as president and CEO.
Iamba held its first financing round in 2001, and subsequently held two internal rounds, in which Giza and Pitango increased their investments in the company by $6 million.
Iamba has 30 employees at its headquarters in California and development center in Kfar Saba.
Published by Globes [online], Israel business news - www.globes.co.il - on August 22, 2006
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